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NEAR price analysis: NEAR/USD struggles to break the $13.08 resistance

Near price analysis

TL;DR Breakdown

  • The NEAR price analysis shows bullish tendencies.
  • The bearish momentum seems to be slowly increasing.
  • NEAR/USD is stable today, but the market is expected to fall in the next few hours.
  • NEAR has set a 24 hour high of $13.16.
  • Currently, it is trading between $12.46 and $12.06.
  • Not the best time to invest for short term gains.

After a rapid increase to $12.84 yesterday, the NEAR price analysis depicts bullish tendencies today again. However, the NEAR market has remained stable for the most part, and not much increase has been seen. The price is expected to remain stable over the next few hours.

NEAR price analysis: NEAR/USD struggles to break the $13.08 resistance 1
Cryptocurrency heat map by Coin360

At large, the cryptocurrency market today is quite indecisive. For instance, Bitcoin price has reduced by 0.97 percent, whereas Ethereum has marked a 0.19 percent increase. While some altcoins have taken a course like Ethereum, others have observed a slight fall.

NEAR price analysis: NEAR/USD struggles to break the $13.08 resistance 2
NEAR Price Chart by TradingView

Our 1-Day NEAR price analysis graph gives a good depiction of the stability. First, we see that the histograms on the MACD analysis are in the greens and are gaining strength over the last few days. Similarly, the RSI line also shows a constant gradient at 78.22, suggesting that the market is bullish yet stable.

NEAR 24-hour price movement

NEAR price analysis: NEAR/USD struggles to break the $13.08 resistance 3
NEAR Price Chart by TradingView

In the last 24 hours, the NEAR price reached a high of $13.16 before falling again. Then, several intervals with bullish tendency can be observed. In the current hour, NEAR is somewhat stable at $12.46, which is still higher as compared to its closing price just 24 hours ago, which was $12.06.

Currently, the RSI line on our 1-hour Near price analysis chart is at 56.61. While the RSI line is relatively stable, the MACD analysis indicates that the bulls might get exhausted soon. The histograms in the last few intervals are in the reds after a crossover that occurred after the 10th hour today.

Overall, NEAR has a market cap of $1,006,785,605 today, with a rank of 45 based on the market cap.

4-Hour Price Chart: NEAR sets new resistance at $13.08

NEAR price analysis
NEAR Price Chart by TradingView

After setting a new resistance at $13.086, our 4-hour NEAR price analysis chart shows a consistent fall in the last two intervals. However, the bulls are giving the bears a tough time. So, some stability can be expected for the next few hours.

However, eventually, the bulls will get exhausted, and the sellers will drive the price lower. For now, the bears are trying to break the previous $11.86 support. Regardless of the market’s course from here, a retrace to $13 is not likely.

NEAR Price Analysis: Conclusion

Currently, we see a tug of war between the bears and the bulls. But at the same time, the bulls are slowly getting exhausted, which means that the price of NEAR is set to fall in the next few hours. So, it might not be a good time for new buyers to invest with hopes of short-term profits. Until then, you might want to check out our latest Bitcoin news pieces.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and consultation with a qualified professional before making any investment decisions.

Richard Adrian

Richard Adrian

Richard is a versatile fintech analyst with a deep understanding of blockchain domains. As much as technology fascinates him, he finds the intersection of both technology and finance mind-blowing. The firm belief that fintech will drive the future has brought him to the crossroads of Fintech discoveries and transmission of immutable data to a wider audience - Cryptopolitan.

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